(March 14 – 17:30 ET) – VenGrowth, a technology venture capital investor says it has raised $176 million in its retail venture capital funds during the RRSP season. VenGrowth now manages close to $1 Billion in assets, ranking it as one of Canada’s largest and most successful venture capital investors.

“We appreciate the incredible support from shareholders, and thousands of financial advisers. It is an overwhelming endorsement of VenGrowth’s strategy,” says Deborah Gray, VenGrowth’s Vice President, Sales and Marketing. “VenGrowth now has over 100,000 shareholders in its two retail funds. With numerous investment opportunities on the horizon, VenGrowth will use these proceeds to continue to invest in the most promising up and coming Canadian companies.”

VenGrowth launched its second retail fund, VenGrowth II, in January 2000 after closing its flagship retail fund, VenGrowth I Fund, on December 31, 1999. Combined, the two funds had net inflows of $176 million for the 1999 taxation year.
-IE Staff